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Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
Carrie L. Tolstedt is an ousted American banking executive and former head of the community banking division at Wells Fargo, [1] from which she retired in 2016 before the company's account fraud scandal came to light. In 2017, Wells Fargo retroactively fired Tolstedt for cause. In 2023, she would plead guilty to obstructing a bank examination.
Map of Wells Fargo branches in August 2015 Wells Fargo branch in Berkeley, California A former Wachovia branch converted to Wells Fargo in the fall of 2011 in Durham, North Carolina American Express Co. early receipts (1853, 1869) Stagecoach with Christmas gifts at a Wells Fargo Bank, San Francisco Wells Fargo & Co. Express building circa 1860, Stockton, California Mud wagon — Wells Fargo U ...
helen89—Getty Images. At around 7 a.m. on a Friday, Denise Prudhomme scanned into her Wells Fargo job, housed in a corporate office in Tempe, Ariz. She was found dead in her cubicle four days ...
The case is SEB Investment Management AB et al v Wells Fargo & Co, U.S. District Court, Northern District of California, No. 22-03811. (Reporting by Jonathan Stempel in New York; Editing by Aurora ...
A Wells Fargo supervisor who had been fired by the banking giant won a disability discrimination lawsuit against it and was awarded $22.1 million by a federal court jury in Charlotte. The decision ...
The Clearing House, Financial Services Roundtable, Chevron. John Gerard Stumpf (born September 15, 1953) [2] is an American business executive and retail banker. He was the chairman and chief executive officer of Wells Fargo, one of the Big Four banks of the United States. He was named CEO in June 2007, elected to the board of directors in June ...
The Wells Fargo case is brought under the False Claims Act, which gives whistleblowers incentives to report fraud against the government, and under FIRREA, a little-used statute that has grown in ...